Published on 12/29/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $578,000 index-linked notes tied to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – GS Finance Corp. priced $578,000 of 0% notes due Dec. 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be the greater of $1,300 and par plus the index return. If the return is negative but the index does not fall by more than 30%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline from the initial level.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying index: | S&P 500
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Amount: | $578,000
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Maturity: | Dec. 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, the greater of $1,300 and par plus the index return; if index falls by up to 30%, par; otherwise 1% loss for each 1% decline from initial level
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Initial index level: | 2,268.88
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Pricing date: | Dec. 27
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Settlement date: | Dec. 30
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.3%
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Cusip: | 40054KQC3
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